Clearwater International advises Sanifarma on its sale to Fidia Farmaceutici

Clearwater International has advised Sanifarma S.r.l. (Sanifarma), a leading Italian company in the markets of contact lenses, solutions and eye drops, glasses, and food supplements, on the sale of its company branch to Fidia Farmaceutici S.p.A. (Fidia Farmaceutici), a world leader in research, development, production, and marketing of innovative products based on hyaluronic acid and its derivatives.

Based in Rome, Italy, Sanifarma is engaged in the sale of contact lenses as well as different types of solutions, eye drops, glasses, and supplements that are mainly provided to the pharmacies and parapharmacies channels. In 2022, the company recorded a market share, in Italy, of approximately 70% regarding the sale of contact lenses, with eight million units sold, and 35% for lens solutions in the pharmacies and parapharmacies channels.

Headquartered in Abano Terme, Italy, Fidia Farmaceutici offers products in various strategic healthcare areas such as joint, skin, eye, aesthetic, speciality, regenerative, and primary care. In 2022, Fidia generated revenues of €412m at the consolidated level and employs more than 1,500 people. The group’s network extends across 100 countries, with partners and distributors operating in the pharmaceutical and biomedical sectors, as well as subsidiaries located in the strategic markets.

The transaction consists of the sale to Fidia Farmaceutici S.p.A. of a NewCo named "Fidia Healthcare S.r.l." into which Sanifarma previously contributed a company branch consisting, inter alia, of brands, products, contracts and customer and supplier portfolios. Specifically, the business lines pertaining to the transferred branch concern the supplement lines for physical and mental wellbeing as well as the insect, mosquito, and jellyfish sting lines including the ophthalmic line, which comprises of various market-leading brands such as Contacta and Correct that offers different ranges of lenses, solutions and eye drops, glasses, sunglasses, and accessories.